Banks Rise, Tech Slips As Dollar, Treasury Yields Jump On Stronger Data: What's Driving Markets Thursday
Portfolio Pulse from Shanthi Rexaline
US stock futures indicate a positive start for Thursday as traders digest the Federal Reserve’s bank stress test results and strong earnings reports. The major averages ended Wednesday on a mixed note, with the Nasdaq Composite and Russell 2000 Index closing higher, while the Dow Industrials and S&P 500 Index retreated. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) rose. Stocks in focus include Virgin Galactic Holdings, Inc. (NYSE:SPCE), BlackBerry Ltd. (NYSE:BB), and Micron Technology, Inc. (NASDAQ:MU) due to their quarterly results.
June 29, 2023 | 11:18 am
News sentiment analysis
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POSITIVE IMPACT
BlackBerry Ltd. climbed about 15% in reaction to their quarterly results.
The strong quarterly results have led to positive sentiment towards the stock, which could lead to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Micron Technology, Inc. climbed about 4% in reaction to their quarterly results.
The strong quarterly results have led to positive sentiment towards the stock, which could lead to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Invesco QQQ ETF gained in premarket trading.
The gain in premarket trading indicates positive sentiment towards the ETF, which could lead to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Virgin Galactic Holdings, Inc. rose over 4% in premarket trading due to the impending first commercial flight to the edge of space.
The impending first commercial flight is a significant milestone for the company, which could lead to a short-term increase in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust rose in premarket trading.
The rise in premarket trading indicates positive sentiment towards the ETF, which could lead to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80